Heritage Insurance (NYSE:HRTG) Downgraded by StockNews.com to “Hold”

Heritage Insurance (NYSE:HRTG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts also recently issued reports on HRTG. Truist Financial lifted their price objective on Heritage Insurance from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Piper Sandler raised shares of Heritage Insurance from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $13.00 in a research report on Friday, August 9th.

Heritage Insurance Trading Up 5.2 %

Shares of HRTG stock traded up $0.60 during trading hours on Friday, hitting $12.20. 563,158 shares of the company were exchanged, compared to its average volume of 506,831. The firm has a market cap of $374.34 million, a PE ratio of 4.88 and a beta of 0.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $12.81 and a 200 day moving average of $10.35. Heritage Insurance has a 1 year low of $5.51 and a 1 year high of $16.90.

Heritage Insurance (NYSE:HRTG) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.25. Heritage Insurance had a net margin of 9.10% and a return on equity of 30.48%. The business had revenue of $211.85 million for the quarter, compared to the consensus estimate of $209.91 million. During the same quarter last year, the firm posted ($0.28) EPS. Analysts expect that Heritage Insurance will post 0.87 earnings per share for the current year.

Insider Buying and Selling at Heritage Insurance

In related news, Chairman Richard A. Widdicombe purchased 4,437 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $14.55 per share, for a total transaction of $64,558.35. Following the transaction, the chairman now owns 696,497 shares of the company’s stock, valued at $10,134,031.35. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Heritage Insurance

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC raised its stake in Heritage Insurance by 8.1% during the 1st quarter. Empowered Funds LLC now owns 96,678 shares of the insurance provider’s stock valued at $1,030,000 after acquiring an additional 7,203 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Heritage Insurance during the first quarter valued at about $155,000. Fortis Capital Advisors LLC acquired a new stake in Heritage Insurance in the first quarter worth about $134,000. Kennedy Capital Management LLC acquired a new position in shares of Heritage Insurance during the first quarter valued at approximately $663,000. Finally, Instrumental Wealth LLC lifted its position in Heritage Insurance by 109.1% in the first quarter. Instrumental Wealth LLC now owns 27,791 shares of the insurance provider’s stock worth $296,000 after purchasing an additional 14,500 shares during the period. Institutional investors own 59.03% of the company’s stock.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.